Commenting on the new rates, the Finance Secretary for Wales, Mark Drakeford, stated: ‘From April, Wales will introduce the first Welsh taxes in almost 800 years, supporting first-time buyers and boosting business.

‘The devolution of tax powers provides us with the opportunity to reshape and make changes to improve existing taxes to better meet Wales’ needs and priorities.

‘These new progressive rates and bands for LTT . . . will make a real difference to people’s lives; help change behaviours and deliver improvements to communities across Wales.’